Spotify's public filing reveals key stats about the streaming giant
Spotify quietly signaled its intention to become a publicly traded company in December of last year, even though several lawsuits over licensing were looming. Now the streaming service has filed for a direct listing on the New York Stock Exchange, an alternative to the more typical initial public offering (IPO) that offers the company a savings on underwriting fees and a dilution of existing shares. The prospectus document provides quite a bit of information on the company's financials, which helps investors make a more informed decision when purchasing stock. The data speaks to how hard it is to make money as a streaming services provider. For example, the company's losses are increasing rapidly. In 2015, 2016, and 2017, the company incurred net losses of €230 million, €539 million, and €1,235 million, respectively. That's despite revenues of €1,940 million, €2,952 million, and €4,090 million in the same years. Plus, their closest competitor, Apple Music, claims a 4...